Cintas Co. (NASDAQ:CTAS) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lifted its holdings in Cintas Co. (NASDAQ:CTAS) by 316.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,084 shares of the business services provider’s stock after acquiring an additional 20,573 shares during the period. Marks Group Wealth Management Inc’s holdings in Cintas were worth $5,576,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. LGT Financial Advisors LLC raised its position in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Financial Management Professionals Inc. raised its holdings in shares of Cintas by 341.4% during the 3rd quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock valued at $26,000 after buying an additional 99 shares during the period. Atwood & Palmer Inc. acquired a new position in Cintas during the 2nd quarter worth approximately $27,000. Pathway Financial Advisers LLC purchased a new position in Cintas in the 1st quarter worth approximately $29,000. Finally, Grove Bank & Trust boosted its holdings in Cintas by 1,340.0% in the 3rd quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CTAS. Truist Financial boosted their target price on shares of Cintas from $212.50 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 19th. UBS Group boosted their price target on Cintas from $219.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Redburn Atlantic started coverage on Cintas in a research note on Friday, August 9th. They set a “neutral” rating and a $167.50 price objective for the company. Finally, Morgan Stanley upped their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Price Performance

CTAS opened at $208.99 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $218.11 and its 200 day moving average price is $192.62. Cintas Co. has a fifty-two week low of $128.92 and a fifty-two week high of $215.37. The firm has a market cap of $84.29 billion, a price-to-earnings ratio of 52.78, a price-to-earnings-growth ratio of 4.05 and a beta of 1.32.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the business posted $3.70 EPS. The business’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that Cintas Co. will post 4.23 earnings per share for the current year.

Cintas declared that its board has approved a stock repurchase program on Tuesday, July 23rd that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.56 annualized dividend and a yield of 0.75%. Cintas’s dividend payout ratio is presently 39.39%.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.